Three Conservative MPs have quit their tribe to join the ex-Labour MPs that split from their own party the day before. Betting.Betfair has the latest on the next General Election market...
"Chuka Umunna is now 32.031/1 on the Next Prime Minster Market from odds of 501.0500/1 at the start of the week, with his now former leader Jeremy Corbyn and Michael Gove the favourites at 6.611/2 and 7.26/1 respectively."
It's been another seismic day in UK politics with three Conservative MPs leaving the party causing big moves in Betfair's next general election betting.
The odds on 'Any Other Party' winning Most Seats at next Election have plummeted from 29.028/1 last week to 12.011/1 on Betfair Exchange following mass party resignations.
The exodus started with seven Labour MPs on Tuesday; Chuka Umunna, Mike Gapes, Luciana Berger, Ann Coffey, Angela Smith, Gavin Shuker and Chris Leslie all quitting to form The Independent Group. An eighth MP, Joan Ryan, quit earlier on Wednesday morning to add to the Labour Party's headache.
However in a turn of events, Tory MPs Heidi Allen, Anna Soubry and Sarah Wollaston quit their own party to join "TIG", as it's also known, with Soubry citing, "The right wing, the hard-line anti-EU awkward squad that have destroyed every leader for the last 40 years are now running the Conservative Party from top to toe. They are the Conservative Party."
This has seen the "Any Other Party" selection for winning Most Seats at their shortest ever price, from 43.0 in January and 2928/1 last week.
Furthermore, one of the key instigators, Chuka Umunna is now 32.031/1 on the Next Prime Minster Market from odds of 501.0500/1 at the start of the week, with his now former leader Jeremy Corbyn and Michael Gove the favourites at 6.611/2 and 7.26/1 respectively.
Betfair Exchange Political Odds
UK - Next General Election - Most Seats
Any Other 12.011/1
Liberal Democrat 140.0139/1
Prime Minister After Theresa May
Jeremy Corbyn 6.611/2
Michael Gove 7.26/1
Dominic Raab 11.010/1
Boris Johnson 9.417/2
Sajid Javid 9.617/2
Jeremy Hunt 1413/1
Amber Rudd 2221/1
Chuka Umanna 3231/1